Imagine Homes and Bank of Scotland Corporate are to create a £250 million residential buy-tolet property investment fund, Veritas Investments.

The fund will invest in high quality residential property developments throughout the UK.

Assets will be acquired through Imagine Homes’ existing channels and Imagine will then rent and manage the properties using their own letting team. Imagine Homes was founded in 2003 by Grant Bovey (pictured), the husband of TV presenter Anthea Turner.

The company acquires property from quality developers – both local and national – and has significant input on design and specification throughout the building process. Imagine sells the properties and rents them back from purchasers for two years, guaranteeing a rental yield of 7.5% per annum. Tenants are all sourced through local agents.

Bovey said: “Veritas could become one of the UK’s largest buy-to-let property portfolios.”